Options up over 16% in less than 1 day

My Reasoning:

I am pretty optimistic about a market rebound this week, but it could also be very choppy.

We have a lot of economic data coming out, plus earnings reports from some of the biggest tech stocks in the world. They will likely decide the fate of the market, but that will come later in the week.

Today, I am focused on a stock that I really don’t like very much, but I have to respect its great trading pattern right now.

It is also a big piece of a sector that has been on the rebound lately.

My Bullseye pick that I want to buy this week is (EPNH) calls.

My plan is to get started near the open today and buy both stock and options, hopefully near my target entry price, which I list below.

I will admit this isn’t the absolute best trend out there right now, and it might break down. If that happens, I am going to use a closing price under $115 as my stop limit on this trade.

If things go my way, I think ENPH could be headed to $130 as target #1 and possibly even $140 as target #2.

As usual, I plan to buy multiple positions on this and shoot for 30-50% gains if I can get them.

My Trade Plan Details:

• ENPH Aug 16 $125 calls near $4.20
  
• Stop: Close ENPH below $115
• Target 1: $130
• Target 2: $140